I worked incredibly hard to do the best that I could do and I did it with an intense focus. Helping people is really important to me. When I teach others how to trade, I have this same attitude. I know how difficult trading is, and I never lose sight of the struggle that all traders endure. With that in mind, everything that I say or write is to help traders achieve their goal of making money trading. The markets were created by institutions for their benefit, but we can participate.

This is not a game. It is our lives, and we all want to have better lives and to help our families. This is very serious business and I take it very seriously. However, I firmly believe that if a trader takes the time to learn how to trade, and if he is able to apply what he has learned, he will be in a position to achieve his goal. I look at price action differently from most traders. This is because I believe that there is significance to every tick that takes place during the day.

None of what happens is noise. There is an incredible amount of information embedded in charts of every time frame. I think that each of the or so major firms are very familiar with many pieces of the puzzle. But, much of the puzzle is actually invisible to all of them. No one has to see all of the pieces to consistently make money. However, the more that a trader sees, the more opportunities he has to make a profit.

But, I at least think that it is much more complex and fascinating than what everyone makes it sound. Also, much of my enjoyment comes from continuing to discover tiny new pieces.

Also, Forex markets, instead of referring to ticks, people talk about pips, which is basically the same thing. I mean, it is the same thing.

So each little move up or down is a pip. Whereas stocks and Emini, crude oil, gold — every little move up or down is a tick. I feel really comfortable. Anyway, I talk about all of this stuff in the Forex course, and I do think traders can trade the Forex markets exclusively for a living.

I do think they can trade the five-minute chart and do it as well, although I think because of the issues with bid-ask spreads and the charts not being as reliable, I think most traders are better off looking to trade minute charts, one or two-hour charts, four-hour charts, daily charts.

Al calls this a small pullback bull trend. And every day, there are things like that in the Forex markets, so I really do think a day trader can do very well. However, as I said, there are fewer day trades, I think, in the Forex market on average — far fewer than there are in the Emini.

Certainly far fewer scalps. All right, hope that everybody has a good night. When you scalp the ES for 4 ticks, you still pay 1 tick in spread plus any commission … So your minimum scalp compared to cost is Therefore, if you have a 1 pip cost in forex, the minimum scalp should be pips, if we are following that logic.

To me, this ratio of cost vs profits should be the measure of what makes sense as a minimum, and by that logic, a 5 pip scalp is an acceptable minimum given a 1 pip cost.

The logic makes sense if you can get a 1 pip spread? The majority of forex dealers catering to home traders with small accounts have spreads that are much wider than 1 pip.

Also, the forex market spreads can widen significantly over the less active trading hours and during volatile periods. The ES does not have this issue for the majority of the time. From your comments about reasons for trading FOREX rather than ES, I take it that you prefer FOREX to currency futures because of the smaller position sizes that FOREX permits?

Hi Al, Does the 10 tick minimum scalp in Forex also apply to 6E Futures where there is an official exchange and usually a very tight spread? Thank you, Michael. I would not trade a Forex mkt or a stock for less than 10 pips or ticks. I often take 1 pt scalps in the ES, but 1 pt in the ES is the same at 10 ticks in the SPY, so a 4 tick, 1 pt scalp in the ES is really the same as a 10 tick scalp. Futures and forex trading contains substantial risk and is not for every investor.

An investor could potentially lose all or more than the initial investment. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading.

Past performance is not necessarily indicative of future results. The trading room is for educational purposes only and opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account.

Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight.

In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results.

There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results. Please log in again. The login page will open in a new tab. Past performance is not necessarily indicative of future results. The trading room is for educational purposes only and opinions expressed are those of the presenter only.

All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account. Hypothetical performance results have many inherent limitations, some of which are described below. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading. For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results.

There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results. English Español Portugues About the Course About Al Brooks Testimonials Course contents Free sample videos Buy the course Your purchase guarantee Members resources Blog Learn to Trade What is price action?

Navigation English — Español — Portugues About the Course — About Al Brooks — Testimonials — Course contents — Free sample videos — Buy the course — Your purchase guarantee — Members resources Blog Learn to Trade — What is price action?

You do not have to know everything to make money, although the more you know, the more money you stand to make. Find something that works, trade comfortably, and build from there. The goal is to get good. Getting there fast is less important. Read more on the Course Contents page. My 25 chapter How to Trade Price Action Manual will help you learn how to trade consistently like a professional using price action trading, and I based it on the material in my Brooks Trading Course, my four books, and what I say every day in my Trading Room.

I discuss Emini price action and trading throughout the day in my trading room. Here is a sample video that shows what takes place. You can request a Free 2-day trial. I have written four best-selling books on price action trading, hoping to help traders make money. They are published by Wiley and are available on Amazon.

Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results. The trading room is for educational purposes only and opinions expressed are those of the presenter only.

All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account. Hypothetical performance results have many inherent limitations, some of which are described below.

No representation is being made that any account will or is likely to achieve profits or losses similar to those shown; in fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particular trading program.

One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk, and no hypothetical trading record can completely account for the impact of financial risk of actual trading.

For example, the ability to withstand losses or to adhere to a particular trading program in spite of trading losses are material points which can also adversely affect actual trading results. There are numerous other factors related to the markets in general or to the implementation of any specific trading program which cannot be fully accounted for in the preparation of hypothetical performance results and all which can adversely affect trading results. English Español Portugues About the Course About Al Brooks Testimonials Course contents Free sample videos Buy the course Your purchase guarantee Members resources Blog Learn to Trade What is price action?

Navigation English — Español — Portugues About the Course — About Al Brooks — Testimonials — Course contents — Free sample videos — Buy the course — Your purchase guarantee — Members resources Blog Learn to Trade — What is price action?

Al Brooks MD, Professional Trader. Please understand that individual results may vary and that testimonials appearing on this website may not be representative of other clients or customers and is not a guarantee of future performance or success.

Past performance does not guarantee future performance. Price Action Trading. Trading Room. Trading Books. Risk Disclosure Futures and forex trading contains substantial risk and is not for every investor. Hypothetical Performance Disclosure Hypothetical performance results have many inherent limitations, some of which are described below. English Português Español.

mp4 MP4 86, MB Video 37B How to Trade. Risk Disclosure Futures and forex trading contains substantial risk and is not for every investor. When I teach others how to trade, I have this same attitude. mp4 MP4 74, MB Video 33F Protective Stops. Pretty tight channel, so — like this, probably a minor reversal.

Categories:

• Binary Options
• Forex Brokers
• Forex Bitcoin
• Forex
• Binary Options online